Recession leads to boost in restaurant sales

There has been a rise in the number of restaurants for sale in the wake of the recession, recent reports have suggested.

In Edinburgh, for example, critically-acclaimed Seadogs is on the market, along with the established seafood restaurant Creelers. Both have been in operation for quite a while, suggesting that rough trading is hitting business across the board.

This could be good news for those looking to buy a restaurant business as prices are likely to be lower than during strong market conditions.

David Ramsden, who runs The Dogs – the chain to which Seadogs belongs – told Scotland on Sunday that things are indeed tough.

“It has become clear in Edinburgh that the market has been contracting at a frightening rate,” he remarked. “I put Seadogs on the market in an attempt to contract the group and downsize, rather than face the possibility of getting into serious trouble.”

He still has some concerns about the remaining restaurants in the chain, but is hoping to keep a positive outlook on the future.

Tim James, who ran Creelers along with his wife, concurred that the financial climate has had a big impact. “Seafood is not cheap but we’re not a Michelin-starred restaurant either, and it’s that sort of middle market destination that’s really suffered lately,” he told the paper.